Yahoo Finance Insights on the Oilfield Catwalks Global Market to 2027 - Featuring Forum Energy Technologies, National Oilwell Varco, Bentec GmbH Drilling & Oilfield Systems and Axiom Oilfield Solutions Among Others
Dublin, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The "Oilfield Catwalks Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027: Segmented By Type (Mechanized, Hydraulic, Automated), By Location (Onshore, Offshore), By Application, By Region" report has been added to ResearchAndMarkets.com's offering.
Global oilfield catwalks market is anticipated to grow with an impressive CAGR value in the mentioned forecast years 2023-2027 on the account of maximizing output of the oil reservoirs. Surge in the demand for the oilfield excavation for effective oil output is further driving the growth of the global oilfield catwalk market in the upcoming five years.
Oilfield catwalks are pipe handling systems that are utilized for the transportation of tubular objects and ancillary equipment between surface and the drill floor. These are elongated platform which is planted adjacent to the rig floor where pipe is laid out and lifted into the derrick.
The machinery is often radio controlled from the drill floor with an integrated indexer. The equipment is usually 0.9 meters tall and is typically made up of steel. The oilfield catwalks are situated perpendicular to the inverted V-shaped opening called as vee-door.
The catwalks are a functional area for drilling tool activities, components, tools that are picked up or the ones already running and about to be laid down.
Surging Demand for Oil & Gas Drives Market Growth
Rapidly increasing demand for the oil and gas by automotive industry and other industries is driving the growth of the global oilfield catwalk market in the upcoming five years.
Also, surging demand for maximizing the excavation amount of the oil & gas from a particular reservoir is further driving the growth of the global oilfield catwalk market in the next five years.
According to BP statistical review of world energy 2021, global oil production in the year 2020, accounted for 88,391 thousand barrels per day. Out of which 16,476 barrels per day oil production was in the United States alone.
The increased oil production is in response to the rapidly surging demands for the same. To sustain such heavy loads of production every day, best equipment and efficient machinery is much required thereby supporting the growth of the global oilfield catwalk market in the future five years.
Also, surge in the demand for oil & gas excavation from the difficult reservoirs are further substantiating the growth of the global oilfield catwalk market in the forecast years, until 2027.
Market Segmentation
The global oilfield catwalks market segmentation is based on type, location, application, regional distribution, and competitive landscape. Based on type, the market is fragmented into mechanized, hydraulic, and automated. On the basis of location, the market is differentiated between onshore and offshore.
Based on application, the market is further segmented into rod handling, productivity, cycle time, rapid rig-up, and wireless control system. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and Middle East & African region.
Company Profile
Forum Energy Technologies Inc., National Oilwell Varco, Bentec GmbH Drilling & Oilfield Systems, Axiom Oilfield Solutions Ltd., Schlumberger Limited, WYCE Innovations, Weatherford International, are enlisted in a partial list of major market players of the global oilfield catwalks market. The existing market players are highly invested in research and product development along with viable service provisions for the consumers. New market entrants may follow similar strategies along with merger and acquisition methods for future brand establishment.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Oilfield Catwalk Market
4. Executive Summary
5. Voice of Customers
5.1. Brand Awareness
5.2. Factors Considered while Selecting a Supplier
5.3. Customer Satisfaction Level
5.4. Major Challenges Faced
6. Overview on Oilfield Catwalk Rental Market
7. Global Oilfield Catwalk Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Type (Mechanized, Hydraulic, Automated)
7.2.2. By Location (Onshore, Offshore)
7.2.3. By Application (Rod Handling, Productivity, Cycle Time, Rapid Rig-Up, Wireless Control System)
7.2.4. By Region
7.2.5. By Company
7.3. Product Market Map
8. North America Oilfield Catwalk Market Outlook
9. Asia-Pacific Oilfield Catwalk Market Outlook
10. Europe Oilfield Catwalk Market Outlook
11. South America Oilfield Catwalk Market Outlook
12. Middle East & Africa Oilfield Catwalk Market Outlook
13. Market Dynamics
13.1. Drivers
13.2. Challenges
14. Market Trends & Developments
15. Company Profiles
15.1. Forum Energy Technologies Inc.
15.2. National Oilwell Varco
15.3. Bentec GmbH Drilling & Oilfield Systems
15.4. Axiom Oilfield Solutions Ltd.
15.5. Schlumberger Limited
15.6. WYCE Innovations
15.7. Weatherford International
16. Strategic Recommendations
17. About Us & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/7k26p9-catwalks?w=12
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